Finance

Have finance questions? Ask a financial expert online.

Ask an Expert,
Get an Answer ASAP!

Related Finance Questions
Last year, my wife and I each contributed to a Health
Last year, my wife and I each contributed to a Health Savings Account with both of us listed as Co - owners. We both work for the same employer. This year, our employer is saying we must each have our… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,645 satisfied customers
Am I eligible for an HSA if I pay my premium under health
Am I eligible for an HSA if I pay my premium under health continuation coverage. I am in my eighties and my coverage under the city just ended. I have medicare Part A only. … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,645 satisfied customers
This question is for a Tax Professional. I just retired ,age
This question is for a Tax Professional. I just retired ,age 62. I have no earned income other then bank interest. I have a substantial IRA that I am currently not withdrawing from. I am not employed … read more
Robin D.
Robin D.
Vocational, Technical or Trade School
16,104 satisfied customers
Ihave a HSA question, In 2016 I was in a regular health plan
In 2016 I was in a regular health plan from my spouses COBRA for both of us. In 2017, I switched to a High Deductible plan and opened a HSA for that year which has already maxed out at 6750. My accountant is telling me I can open a HSA for 2016 and use the money for 2017 expenses given that HSA's roll over and I can do this before April 15, 2017. I am leary to do this because I was not in a High Deductible Planfor 2016 and was in a regular PPO that had 500 Deductoible per person and 2000 ind. 4000 family out of pocket maximum. I believe that one must be in a high deductible plan to qualify for a HSA and given that I was not for 2016, i could have a problem accessing the money. In addition, Cobra runs out end of April 2017 and I may have a problem accessing funds if being in Aaan Hsa is a prerequisite as I may choose not be be in a HSA folllowing that time. Can you tell me is one has to be in a high deductible health plan in order to qualify for a HSA for the plan year 2016 in question ? … read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,989 satisfied customers
Would there be a personal income tax/savings benefit for
Would there be a personal income tax/savings benefit for someone at age 63 to open a Health Savings Account debit card for TAX Years 2016 and 2017? Since it is a debit card, any theft and use of this … read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,525 satisfied customers
My spouse is changing jobs, new company, they offer a HSA
My spouse is changing jobs, new company, they offer a HSA for 2016 and/or 2017. I have had a PPO for medical for the family for 2016. Can she elect to have individual or family HSA for 201? If so, how… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,989 satisfied customers
Question regarding HSA contributions. Lane - you answered my
For Lane - Question regarding HSA contributions.Hi Lane - you answered my question regarding Health Insurance reimbursement by an S-Corp on a W2. Just a reminder, I am a 100% shareholder of my S-corp,… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,525 satisfied customers
My sister is enrolled in the affordable care act. Can she
Hi again,My sister is enrolled in the affordable care act. Can she establish a health savings account to reduce her MAGI? I read where HDHPs are the only plans that allow an enrollee to contribute to … read more
PDtax
PDtax
Owner
Master's Degree
4,292 satisfied customers
I thought that as a plan has a $1250 minimum deductible (and
I thought that as long a plan has a $1250 minimum deductible (and $6350 maximum out of pocket) I can contribute to an HSA, but now I realized to my horror, based on some searching I've done on the web… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,252 satisfied customers
Lane. Here is the 2nd question. It involves a health
Hi Lane. Here is the 2nd question. It involves a health savings account. I have an individual who became and shareholder of an S Corp in 2014. They had an HSA in place but when he became more than a 2… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
15,525 satisfied customers
Previous question not answered. help me understand why this
previous question not answered. help me understand why this reimbursement would not be called a group health plan and can I deduct the contributions without fear of the excise tax penalty… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
2,222 satisfied customers
I have a dependant disabled child who is covered by Medicare
I have a dependant disabled child who is covered by Medicare due to his disability. I also have HDHP (high deductable health plan) form my employer. Can my child have a dual coverage both from my HDHP… read more
ShawnA
ShawnA
CEO
Bachelor's Degree
2,450 satisfied customers
I was told to ask a tax adviser about a Health Savings Account.
I was told to ask a tax adviser about a Health Savings Account. My husband carries Health insurance on our kids. I carry Health insurance on myself through my employer. I currently have a Flex Spendin… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
2,222 satisfied customers
Hi, this is a health insurance question. Is there an approximate
Hi, this is a health insurance question. Is there an approximate formula available to determine whether switching from an HMO to an HSA account and high-deductible health plan is financially worthwhil… read more
Rakhi Vasavada
Rakhi Vasavada
Financial and Legal Consultant
Bachelor's Degree
2,609 satisfied customers
HSA(Health Savings Account). 1. For 2012, does a health
HSA(Health Savings Account). 1. For 2012, does a health savings account count toward the $17,000 tax shelter total. For example, if I have $15,000 in my 401k and I put $6,000(family max) into my HSA, … read more
winktax
winktax
Enrolled Agent
Master's Degree
425 satisfied customers
Im considering a HSA eligible high deductible health insurance
I'm considering a HSA eligible high deductible health insurance plan. I'm self employed. Would I save more in taxes by running my premium through the HSA account or by taking the self insured deductio… read more
Rakhi Vasavada
Rakhi Vasavada
Financial and Legal Consultant
Bachelor's Degree
2,609 satisfied customers
Im looking for the most tax advantaged way to self-insure
I'm looking for the most "tax advantaged" way to self-insure my husband and myself. We do not have access to a group health care plan. He is self employed/sole proprietor and I own an S-corporation th… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
My future husband has a high deductible medical plan and ...
My future husband has a high deductible medical plan and HSA savings account. He wants to add me to his medical. I receive ss disability benefits and I will be eligible for Medicare on 08/01/07. Here … read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Rakhi Vasavada

Rakhi Vasavada

Financial and Legal Consultant

2,609 satisfied customers

Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years

Megan C

Megan C

Certified Public Accountant (CPA)

2,222 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

1,933 satisfied customers

More than 5000 online tutoring sessions.

JKCPA

JKCPA

CPA

844 satisfied customers

Bachelors degree and CPA with Accounting experience.

Eric

Eric

Financial Manager

559 satisfied customers

Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.

R. Klein, EA

R. Klein, EA

Accountant

480 satisfied customers

TurboTax Expert. QuickBooks Certified Pro Advisor

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

332 satisfied customers

NASD Licensed Rep, 1997-2001, Business Attorney

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x